Irish arts organisations are generating more money from private investment, the Arts Council said today.
Preliminary figures from the second year of the Arts Council's three-year RAISE fundraising pilot project show a year-on-year growth of 18 percent over 2013 and 52 percent growth over 2012 amongst the 10 participating arts organisations.
In 2012 some €1.7 million was raised from voluntary income and sponsorship in the participating organisations, with the figure for 2014 rising to €2.6 million.
The RAISE initiative was launched to build capacity for arts organisations to fundraise effectively. The project is designed to offer organisations tools, skills and resources to increase significantly the investment they secure from private sources.
The data follows the publication of the second Irish Arts Sector - Private Investment Report, which identifies and analyses the level of annual private investment received by Arts Council-funded organisations. The report analyses private investment in 2013 and draws comparisons to the previous year, making it a useful tool for identifying trends and offers arts organisations a benchmark for the level of private investment peer organisations are attracting.
In 2013, Arts Council funded organisations secured €7.6m in private investment with 57 percent from philanthropy and 43 percent from sponsorship. Compared to 2012, voluntary income has increased by 30 percent, while sponsorship increased by 5 percent. The reported total private investment increase is 18 percent. The study is based on comparative information submitted by 168 organisations.
The organisations involved in the RAISE pilot are: Irish Film Institute, Galway Arts Festival, Wexford Festival Opera, Royal Hibernian Academy, Na Piobiari Uileann, Chamber Choir Ireland, Association of Irish Choirs, Hawks Well Theatre, Irish Architecture Foundation and The Model.
Further details of the RAISE Year 2 report
RAISE Pilot: Report on Year 2 (2014)
In 2012 the Arts Council commenced an investment in fundraising capacity building with 12 selected organisations. The RAISE pilot commenced in the last quarter of 2012 and by January 2014 eleven of the selected organisations had completed their individual capacity building programme including the recruitment of eleven fundraisers. In 2014, one organisation that delayed commencement subsequently re-engaged with the Pilot and is now actively fundraising. Three organisations had gaps in activity due to having no resource in place. For most organisations, 2014 was effectively the 1st year of fundraising activity.
Two of the organisations that participated in the pilot are not active artistically in 2015 and are excluded for comparative purposes. Some adjustments to 2012 and 2013 data were also made to reflect prior year adjustments arising from audited accounts.
All organisations are obliged to submit monthly monitoring reports on the levels and type of private investment secured in the previous month and year to date. Data is now available which shows private investment income for 2012, 2013 and 2014 for all participating RAISE organisations:
Key results are as follows:
- • Private investment in 2014 was €2.6m for RAISE organisations
- • In 2014, Private Investment for RAISE organisations increased by 18% over 2013 and 52% over 2012
- • Organisations are budgeting to reach €3.5m in Year 3 (2015)
Monitoring will continue throughout 2015 and data for Year 3 (2015) of the RAISE Pilot will be published in April 2016. In 2015 the ten organisations will have been fundraising for an average of 2 years.
http://www.artscouncil.ie/News/Arts-Council%E2%80%99s-RAISE-pilot-shows-increase-in-private-funding/